Managed Funds Association Lobbying
Group Spends Nearly $1m Lobbying for Hedge Funds
Hedge funds are still lobbying heavily to influence legislation and regulation of the industry. In the second quarter of 2010, the Managed Funds Association, a trade group representing hedge funds, spent $980,000 lobbying on behalf of hedge funds. This is a decline from the $1.37 million spent in the previous quarter. This quarter's lobbying reportedly focused primarily on the oversight of derivatives.
The total is up slightly from the $950,000 that the Managed Funds Association spent on lobbying in the same quarter a year ago. But it's less than the $1.37 million spent in this year's first quarter by the lobbying organization for hedge funds, which cater to institutional investors and wealthy individuals.
According to a July 20 filing with the House clerk's office, the Managed Funds Association lobbied on proposals intended to bring greater transparency and accountability to trading of derivatives. Those controversial instruments are private bets between two parties on how the value of items such as crops or interest rates will change in the future.
The association also lobbied on a proposal that would require hedge funds to register with the Securities and Exchange Commission. Unlike mutual funds, hedge funds don't have to register with the SEC and thus don't have to disclose who runs them, how much money they manage and what securities they buy. Source
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